The Importance of Big Data Analytics

IBM’s latest Institute for Business Value (IBV) study into real-world use of big data, “Analytics: The speed advantage,” shows that competitive advantage is being defined by speed in analytics.

Why?

  • Organizations that implemented big data and analytics pilot projects or deployments were 15 percent more likely to report a significant advantage from their information assets and analytics than if they used traditional analytics.
  • IBM Institute of Business Value also found that 75 percent of leaders cite GROWTH as the key source of value from analytics
  • Organizations that use Big Data Analytics are able to communicate with their customers on a more individual level, allowing them to identify, create and maintain customer relationships.

It is increasingly clear that organizations must use their information assets to gain a comprehensive understanding of markets, customers, products, regulations, competitors, suppliers, and employees. By putting the right skills and tools in place to better understand operations, customers, and the marketplace, companies can use their information assets to unlock new value.

What kind of important information can Big Data Analytics help bring to light for your company?:

  • Gain insight on who your most profitable customers are so you can continuously serve them better
  • Help to find new revenue opportunities
  • Drive product innovation
  • Identify patterns to reduce fraud
  • Help your company differentiate itself from competitors
  • Discover previously hidden correlations
  • Speed up decision making and business processes because of all this new information

This is a great video of exactly what Big Data Analytics can help you uncover :

 

Above all, Big data and Analytics are creating a wealth of insight that your company has full access to. The ability to use these results will enable your company to make decisions quicker and with more confidence than ever before. Want to learn how to get started? Contact us today kmartir@metotsg.com

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